If you are talking about simple interest and not compounding interest then you would just use the formula:
A = P+ Prt
Where Prt is the interest.
500 x 25 = 12500
A = 12500 + 500(.064)(25)
Can you finish from here?
your parents invest $500 on each birthday since the day you were born until you're 25. each investment earns 6.4% simple interest.
how much will you have on your 25th birthday?
2 answers
200
1 answer